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20130819
20130819
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? economic analyst richard gill will help us examine that question on economics usa. i'm david schoumacher. the american economy-- the sum total of what goes on in shopping malls, car dealers, supermarkets, stock exchanges, 7-elevens, and gas stations all around the country. millions of buy-and-sell decisions everday, trillions of dollars worth every year. and those decisions affect every part of our lives. who decides between a room with a view and a house in the suburbs? in our demand and supply economy, who demands and who supplies? 1945. world war ii was over. millions of ex-gis came home, fell in love, got married, and started families. and there was one thing they all needed. when i got out of the service, i had a wife. we wanted a place to live. it was like looking for a needle in a haystack. eventually we found a place, a converted house where the upstairs was converted into an apartment. in 1947, judge paul widlitz was an ex-gi and a young long island lawyer just starting out. we had the normal problems that you would have when they convert a one-family house to a two-family house
is, what are the elements of this package and what means do they use to achieve this goal? they have talked about curtailing aid in a number of ways, and there has been talk of an arms in fargo to signal strongly that the violence must stop. at the same time, there is hardening of rhetoric towards the interim government there, placing most of the blame on the government for their recent clashes with protesters and asking the government first to step back and hopefully to restore some order. >> the egyptians haven't taken kindly, have they, too different of sanctions and eight withdrawal -- to the threat of sanctions and aid withdrawal, have they? >> the foreign minister was quoted telling journalists that he regretted the internationalization of what was happening, that he saw this as a purely egyptian matter, and he was unhappy that aid was being used as a pressure point towards the egyptians, saying that the aid has good intentions and credibility and they would be happy to take it, but otherwise, it is a problem for them. the issue here is that they have a very different perspecti
what the alaskan lands issue tells us about economic questions in general. the alaskan lands issue is an issue of limits. one limit relates to economics. what is the value to society of preserving our natural wilderness? economists will have personal views. we can make no claim to special wisdom. this question is for society to decide. having been appropriately modest, we can now ask what economists can do. the first lesson of economics is that we can't have everything we want. our desires for material goods may be unlimited. our resources for fulfilling those desires are limited and scarce. consider the following diagram-- along this horizontal axis, we measure the acres of alaska preserved as wilderness. if we preserve the maximum amount of alaskan wilderness, we might end up here with 150 million acres of unspoiled natural terrain. on this vertical axis, we measure the valuable resources, say minerals, in those 150 million acres. if all those acres were developed, we would get $13 billion worth of minerals. the notion of limits in economics says you can't be in both places at on
Search Results 0 to 2 of about 3

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